Hayek Kallen Investment Management Grows Stock Holdings in AbbVie Inc. (NYSE:ABBV)

Hayek Kallen Investment Management raised its position in shares of AbbVie Inc. (NYSE:ABBVFree Report) by 0.9% during the fourth quarter, HoldingsChannel reports. The firm owned 32,852 shares of the company’s stock after purchasing an additional 292 shares during the period. AbbVie makes up approximately 2.1% of Hayek Kallen Investment Management’s holdings, making the stock its 12th biggest holding. Hayek Kallen Investment Management’s holdings in AbbVie were worth $5,091,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. Manhattan West Asset Management LLC increased its holdings in shares of AbbVie by 12.3% in the third quarter. Manhattan West Asset Management LLC now owns 3,034 shares of the company’s stock worth $439,000 after buying an additional 333 shares during the period. Allworth Financial LP increased its holdings in shares of AbbVie by 15.0% in the third quarter. Allworth Financial LP now owns 28,935 shares of the company’s stock worth $4,313,000 after buying an additional 3,768 shares during the period. Baron Wealth Management LLC increased its holdings in shares of AbbVie by 5.9% in the third quarter. Baron Wealth Management LLC now owns 1,690 shares of the company’s stock worth $252,000 after buying an additional 94 shares during the period. Trust Co of Kansas increased its holdings in shares of AbbVie by 9.9% in the third quarter. Trust Co of Kansas now owns 2,237 shares of the company’s stock worth $333,000 after buying an additional 201 shares during the period. Finally, Orion Portfolio Solutions LLC increased its holdings in shares of AbbVie by 17.4% in the third quarter. Orion Portfolio Solutions LLC now owns 137,744 shares of the company’s stock worth $20,532,000 after buying an additional 20,457 shares during the period. Hedge funds and other institutional investors own 70.23% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on ABBV. Guggenheim lifted their price objective on AbbVie from $188.00 to $190.00 and gave the stock a “buy” rating in a report on Friday, March 22nd. Raymond James raised their target price on AbbVie from $181.00 to $189.00 and gave the stock an “outperform” rating in a research note on Monday, February 5th. BMO Capital Markets cut their target price on AbbVie from $195.00 to $180.00 and set an “outperform” rating on the stock in a research note on Monday, April 29th. Cantor Fitzgerald initiated coverage on AbbVie in a research note on Friday. They issued an “overweight” rating and a $200.00 target price on the stock. Finally, William Blair raised AbbVie from a “market perform” rating to an “outperform” rating in a research note on Monday, January 29th. Three investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $176.14.

Read Our Latest Analysis on AbbVie

AbbVie Stock Up 1.3 %

AbbVie stock traded up $2.07 during trading hours on Friday, hitting $166.42. 5,152,176 shares of the stock traded hands, compared to its average volume of 5,284,928. The company has a current ratio of 0.94, a quick ratio of 0.83 and a debt-to-equity ratio of 7.93. The firm’s 50-day moving average price is $169.88 and its two-hundred day moving average price is $162.41. AbbVie Inc. has a one year low of $130.96 and a one year high of $182.89. The company has a market cap of $293.88 billion, a PE ratio of 49.38, a PEG ratio of 2.08 and a beta of 0.61.

AbbVie (NYSE:ABBVGet Free Report) last issued its quarterly earnings results on Friday, May 3rd. The company reported $2.31 EPS for the quarter, topping analysts’ consensus estimates of $2.26 by $0.05. AbbVie had a return on equity of 179.47% and a net margin of 11.02%. The firm had revenue of $12.31 billion for the quarter, compared to analysts’ expectations of $11.93 billion. During the same period in the previous year, the firm posted $2.46 EPS. The business’s revenue for the quarter was up .7% compared to the same quarter last year. On average, research analysts forecast that AbbVie Inc. will post 11.27 EPS for the current year.

Insider Transactions at AbbVie

In related news, EVP Azita Saleki-Gerhardt sold 52,870 shares of the business’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $173.71, for a total value of $9,184,047.70. Following the completion of the transaction, the executive vice president now directly owns 243,944 shares in the company, valued at approximately $42,375,512.24. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, EVP Nicholas Donoghoe sold 21,082 shares of the business’s stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $176.30, for a total value of $3,716,756.60. Following the completion of the transaction, the executive vice president now directly owns 55,903 shares in the company, valued at approximately $9,855,698.90. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Azita Saleki-Gerhardt sold 52,870 shares of the business’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $173.71, for a total transaction of $9,184,047.70. Following the completion of the transaction, the executive vice president now owns 243,944 shares of the company’s stock, valued at $42,375,512.24. The disclosure for this sale can be found here. Insiders have sold a total of 383,324 shares of company stock valued at $67,780,003 in the last ninety days. 0.25% of the stock is currently owned by corporate insiders.

AbbVie Profile

(Free Report)

AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals worldwide. The company offers Humira, an injection for autoimmune and intestinal Behçet's diseases, and pyoderma gangrenosum; Skyrizi to treat moderate to severe plaque psoriasis, psoriatic disease, and Crohn's disease; Rinvoq to treat rheumatoid and psoriatic arthritis, ankylosing spondylitis, atopic dermatitis, axial spondyloarthropathy, ulcerative colitis, and Crohn's disease; Imbruvica for the treatment of adult patients with blood cancers; Epkinly to treat lymphoma; Elahere to treat cancer; and Venclexta/Venclyxto to treat blood cancers.

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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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